Indian company Gujurat is making good on promises to expand wind power generation by signing a Memorandum of Understanding with a subsidiary of Suzlon Energy to develop several major new wind farms.
Under the MoU, Suzlon Gujurat Wind Park Ltd (SGWPL) will develop up to 1500 MW of wind power capacity in the Kutch-Saurashtra region of Gujurat, where the state government is attempting to encourage wind energy investment.
According to a statement from Suzlon, SGWPL will play the role of a developer, facilitating permits and regulatory clearances, land, basic services and infrastructure. The Indian firm is the world’s fifth-largest wind turbine manufacturer.
Suzlon recently agreed to sell a ten per cent stake in its gearbox subsidiary Hansen Transmission International to Ecofin of the UK. The revenue raised from the sale will help the company finance the purchase of Germany-based Repower, in which it now holds a 73.71 per cent stake.
Last year Suzlon reached agreement with Martifer to buy its 22.4 per cent stake in Repower, the Germany-based wind turbine manufacturer. Suzlon has agreed to pay Martifer a total of EUR270 million in three tranches for the stake. Suzlon also acquired shares in REpower on the open market and from French engineering firm Areva.